This post is by Nat Keohane, Ph.D., director of economic policy and analysis at Environmental Defense Fund.
A few weeks ago, it came out that the White House is excising major portions of an EPA document on regulating greenhouse gas emissions under the Clean Air Act. The document – a draft Advance Notice of Proposed Rulemaking – is EPA’s answer to a 2007 Supreme Court ruling that greenhouse gases fall squarely within the act’s definition of “pollutant”.
The 252-page draft document [PDF] was leaked. In it, EPA projects that controlling greenhouse gas emissions from cars and light trucks would result in substantial net savings to Americans – as high as $2 trillion in net present value over the next few decades.